June 5, 2009 (FinancialWire) — Dr. Joe Duarte (http://www.joe-duarte.com) recently noted: One of the stock market’s recent wallflowers, the Nasdaq Biotech ETF (NYSE: IBB) moved nicely higher on June 3 and 4.

Duarte added: Biotech has slept through the market’s rally since things bottomed out in March. In fact, after bottoming with the market on March 6 and bouncing, IBB had gone mostly nowhere. Yet, as the ASCO conference kicked into high gear and the oncology news about new drugs and drug trials trickled out, we saw the sector pick up some steam, as we thought that it would, and wrote in this space.

What’s most interesting, though, is that on June 3, as the overall market tumbled, IBB made a new high from the March bottom, a sign of strength.

Sure there was Carl Icahn shaking up Biogen’s board of directors, and more news about drugs and things. But there was nothing, that we could see, that was earth shattering. That kind of action usually means that smart money guys know something about mergers or drug trials. Maybe even something about what the White House plans to do with biotech in its health care plan.

Duarte’s conclusion: As chart watchers, we need to pay special attention to this sector, as it’s beginning to show some important activity. We are currently long IBB. Check out our tech timing section for more details.

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Duarte partners with the Investors Resource Center at Investrend Information (http://www.investrendinformation.com).

Duarte’s IntelligentForecasts.com (http://www.intelligentforecasts.com) provides free news coverage and analysis, and his daily articles and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Duarte has combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of: Futures And Options For Dummies, Successful Energy Sector Investing, Successful Biotech Investing and co-author of After-Hours Trading Made Easy. In early 2001, in Successful Energy Sector Investing, he correctly predicted that Venezuela’s political problems could lead to an energy crisis in the United States. He has also appeared as a weekly guest on Market Mavens Radio and has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.

One of CNBC’s original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990. His articles and commentary have been featured on CBS Marketwatch, Barron’s, Smart Money, Medical Economics, and in Technical Analysis of Stocks and Commodities magazines. In 2003, Doctor Duarte received second place, in the professional section, of the Medical Economics Investment Challenge with a 12-month return of 42%.

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